Miller Magazine Issue: 129 September 2020

86 MARKET ANALYSIS MILLER / September 2020 are rumors in the market about 12MMT and higher. At the last auction, it was possible to reduce the domestic price of corn and slightly stabilize the domestic market. The EU has again zeroed the import duty on corn. Romania's harvest could be cut by 40% due to drought. Crops in France are also not in the best condition. The rate of export of corn from the United States is significantly higher than last year, primarily due to sales to China. As of Au- gust 27, according to the USDA, 13.4MMT of new crop corn have been sold, out of which 6.4MMT, or 48%, to China, compared to 5.5MMT this season, out of which China bought 0.1MMT or 1,1%. Vietnamese buyers are postponing purchases and canceling some South American corn boats due to an oversupply of grain. Importers booked about 3MMT for August-Sep- tember, but demand rema- ined weak. They are now considering postponing purchases until later mont- hs, Reuters reports. WHEAT Exporters' activity can create difficul- ties with purcha- sing and shipping in the ports of the Black Sea region in September and Oc- tober. The market senses a shortage of feed wheat and a limited supply from the EU. Jordan bought 60 thousand tons of Ukrainian wheat for delivery in the second half of Oc- tober at $ 237.5. Reuters this week collected expectati- ons from local ministries and agencies: France - 29.5MMT, Germany - 21.88MMT, Britain - 10.5MMT, Poland - 11.8MMT. On the other hand, the market is somewhat balan-